NOVATEK's marketable hydrocarbons production totaled 374.7 million barrels of oil equivalent (boe), including 46.03 billion cubic meters (bcm) of natural gas and 8,806 thousand tons of liquids (gas condensate and crude oil), resulting in a decrease in total hydrocarbons production by 30.4 million boe, or by 7.5%, as compared with the nine months 2016.

The Company processed 8,585 thousand tons of unstable gas condensate at the Purovsky Processing Plant, representing a 7.9% decrease in daily average processing volumes as compared with the corresponding volumes processed in the prior reporting period. NOVATEK processed 5,247 thousand tons of stable gas condensate at the Ust-Luga Complex, representing a 1.3% increase in daily average volumes processed at the facility in the nine months 2017.

As at 30 September 2017, NOVATEK had 1.38bcm of natural gas and 703thousand tons of stable gas condensate and petroleum products in storage or transit and recognized as inventory.

NOVATEK's marketable hydrocarbon production
including share in production of joint ventures

9M 2016

9M 2017

YoY%

Natural gas, bcm

49.95

46.03

-7.8%

Liquids, thousand tons

9,387

8,806

-6.2%

Total hydrocarbons, mln boe

405.1

374.7

-7.5%

Total hydrocarbons, mln boe per day

1.48

1.37

-7.1%

***

Information provided in this press release presents expected results of PAO NOVATEK operations in 9M 2017. The information represents preliminary assessment only, which can be adjusted after statistical, financial, fiscal and business reporting becomes available. The information on NOVATEK's operational results in this press release depends on many external factors and therefore, provided all permanent obligations imposed by the London Stock Exchange listing rules are unconditionally observed, cannot qualify for accuracy and completeness and should not be regarded as an invitation for investment. Therefore, the results and indicators actually achieved may significantly differ from any declared or forecasted operational results in 9M 2017. PAO NOVATEK assumes no obligation (and expressly declares that it has no such obligation) to update or change any declarations concerning any future results, both due to new information obtained, any future events or for any other reasons.

PAO NOVATEK is one of the largest independent natural gas producers in Russia. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company's upstream activities are concentrated in the prolific Yamal-Nenets Autonomous Region, which is the world's largest natural gas producing area and accounts for approximately 80% of Russia's natural gas production and approximately 16% of the world's gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation. The Company's shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol «NVTK».

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